Pair did a great job as per our expectations and is now consolidating. We have a double scenario setup for the EURCAD today as there is a triangle forming on the H1 chart. We will join the next move once the triangle is broken either with a sell or with a buy. You can find a video explanation of this trading setup at the bottom of this post.
Technical Overview:
H1: Triangle formation
Entry:
M15: Once the break happens either up or down wait for the price to retrace close to the broken trend line and enter.
SELL SCENARIO:
Target 1: 1.4000
Target 2: 1.38
Stop Loss: 1.41
BUY SCENARIO:
Target 1: 1.4200
Target 2: 1.4250
Stop Loss: 1.4125
Video Explanation:
